WeWork Drops 150 Leases To Cut Rent Costs By $8B In Ch. 11

By Alex Wittenberg · April 2, 2024, 1:44 PM EDT

Coworking company WeWork has agreed to exit 150 leases and restructure others to reduce its future rent payments by some $8 billion, saying the "significant milestone" paves the way for it...

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Bankruptcy Scorecard

Summary

Workspace provider WeWork filed for Chapter 11 on Nov. 6 in New Jersey bankruptcy court with more than $10 billion in debt as it seeks to restructure its commercial office lease portfolio.

Case Number

2:23-bk-19865

Judge

John K. Sherwood

Venue

U.S. Bankruptcy Court for the District of New Jersey

Capital Structure

Total Liabilities:

$4.2 billion

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Related Sections

Case Information

Case Title

WeWork Inc.

Case Number

2:23-bk-19865

Court

New Jersey

Nature of Suit

Date Filed

November 06, 2023

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